Mentorship in the social impact world has a diversity problem, say new founders

I was interviewed by Nickie Shobeiry about mentorship in the social impact space a few weeks ago and wanted to share my take on it. This article was originally published on Future of Good, and you can see the read the whole piece here.

In Canada, only 50 percent of businesses make it past five years. With mentorship, that number can jump to 70 percent. Despite such evidence, there still aren’t enough mentorship opportunities for social impact founders in Canada. What needs to change?

For any founder, having a mentor is a key factor in success: someone who provides expert feedback, critical advice, a larger network, and connections to funding opportunities. This holds just as true for social impact founders — the ones pushing to create a better world. 

90 percent of startups fail, and that includes social enterprises. But for founders who had mentors? That five-year survival rate can bump up to 70 percent.

There’s a clear need for mentorship. Despite this, when Future of Good asked the members of our 21 New Founders to Watch list if they thought there were enough mentorship opportunities for founders of social impact organizations, the majority answered ‘no.’ Responses came from founders supporting varied causes, from youth homelessness to home healthcare providers to early childhood educators. Despite the different focus areas, founders voiced similar mentorship challenges. 

You can access the full article here.

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